Full Truck Alliance (NYSE:YMM) Reaches New 12-Month High – Time to Buy?

Full Truck Alliance Co. Ltd. (NYSE:YMM) reached a new 52-week high on Wednesday . The stock traded as high as $13.05 and last traded at $13.07, with a volume of 661455 shares trading hands. The stock had previously closed at $11.67.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Full Truck Alliance from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $13.00 to $18.00 in a research report on Thursday. Hsbc Global Res upgraded Full Truck Alliance to a “strong-buy” rating in a research note on Wednesday, February 26th. Citigroup lifted their price objective on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, HSBC began coverage on Full Truck Alliance in a research note on Wednesday, February 26th. They set a “buy” rating and a $18.00 price objective for the company. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $14.50.

Full Truck Alliance Price Performance

The company has a 50 day moving average price of $11.58 and a two-hundred day moving average price of $9.91. The stock has a market cap of $13.99 billion, a PE ratio of 31.61 and a beta of 0.25.

Full Truck Alliance Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, April 18th. Stockholders of record on Monday, April 7th will be paid a $0.1444 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a dividend yield of 0.9%. This is a boost from Full Truck Alliance’s previous annual dividend of $0.14. Full Truck Alliance’s payout ratio is currently 46.34%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of YMM. SBI Securities Co. Ltd. purchased a new stake in Full Truck Alliance during the fourth quarter valued at $64,000. Townsquare Capital LLC purchased a new stake in Full Truck Alliance during the fourth quarter valued at $111,000. Wolverine Trading LLC purchased a new stake in Full Truck Alliance during the fourth quarter valued at $115,000. Vise Technologies Inc. purchased a new stake in Full Truck Alliance during the fourth quarter valued at $130,000. Finally, Truist Financial Corp purchased a new stake in Full Truck Alliance during the fourth quarter valued at $143,000. Hedge funds and other institutional investors own 39.02% of the company’s stock.

About Full Truck Alliance

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.